Sterling wavers after U.K. inflation report

Sterling wavered on Tuesday after the British inflation report came out earlier today, showing the central bank's readiness to face all possibilities that might hit the British economy after its exit from the European Union, while inflation forecasts continue to rise.
 
GBP/USD last traded at 1.2471, compared to the opening of 1.2472, with an intraday high at 1.2482, and a low at 1.2402.
 
Bank of England's inflation report showed expected higher inflation in the coming period as the pound falls and crude prices rise, which could cause a policy change, possibly towards tightening to stave off inflation.
 
On the other hand, the pound was bound in a right range recently due to conflicting factors, as U.S. interest rates might rise soon, while concerns mount over the impact of Britain's exit from the European Union.
 
The BoE said the expectations are even regarding whether to hike or cut interest rates, which puts the pound into a flat path today amid mixed forecasts in the markets.